1, the other company went bankrupt and owed money to itself. The treatment method is as follows:
(1) If the assets of the company after bankruptcy are sufficient to pay off debts, they shall be paid off;
(2) If the assets are insufficient to pay off the debts, after liquidation according to law, you can apply for cancellation of the company, and the debts of the company will not be paid off after cancellation.
2. Legal basis: Article 113th of the Enterprise Bankruptcy Law of the People's Republic of China.
After paying off the bankruptcy expenses and debts first, the bankruptcy property shall be paid off in the following order:
(1) Wages, medical care, disability allowance and pension expenses owed by the bankrupt to employees, basic old-age insurance and basic medical insurance expenses owed to employees' personal accounts, and compensation that should be paid to employees according to laws and administrative regulations;
(2) Social insurance premiums and taxes owed by the bankrupt other than those specified in the preceding paragraph;
(3) Ordinary bankruptcy claims.
If the bankruptcy property is insufficient to pay off the repayment requirements in the same order, it shall be distributed in proportion.
The wages of directors, supervisors and senior managers of bankrupt enterprises shall be calculated according to the average wages of employees of the enterprise.
Second, what should I do if the company closes down and owes money?
The company's bankruptcy arrears are handled as follows:
1. If the company closes down and owes money, it can negotiate with creditors to repay it by stages or delay;
2. If negotiation fails, the company needs to raise repayment funds as soon as possible, otherwise it may be sued by creditors. Or if the company meets the conditions for declaring bankruptcy, it may also apply to the court for bankruptcy.